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   What is Section 54 of Income Tax Act 1961?

   • Capital gain arises on the sale of a capital asset. The capital gain so arisen can be classified as- Section 54 of the Income Tax Act,1961 provides exemption towards Long Term Capital Gain arising on sale of Residential House Property. What does Section 54 of the Income Tax Act, 1961, say?

   Capital Gain Exemption Under Section 54 of Income Tax Act, 1961

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   How does section 54 provide relief from capital gains tax?

   • In order to provide relief from capital gain tax, the Income Tax Act provides various deductions and exemptions. One such exemption is Section 54. Under Section 54 of the Income Tax Act, if the seller of a residential property acquires or constructs another residential property from that amount, he or she gets benefits from capital gains tax.

   Section 54 of the Income Tax Act: Capital Gains Exemption - Tax2win

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   What is the section 54 exemption?

   • The Section 54 Exemption under the Income Tax Act, 1961, offers a valuable opportunity for individuals to save on capital gains when transferring residential property.

   Section 54 Exemption for Capital Gains on Residential Property Transfer

   taxguru.in/income-tax/section-54-exemption-capital-gains-residential-property-transfer.html

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   Can a HUF avail tax exemption under Section 54?

   • As per section 54 of Income Tax Act, 1961 an individual or HUF selling a residential house property can avail tax exemption under the said section for the capital gains, provided the capital gains are invested in purchase or construction of Residential House Property. What are the conditions to avail exemption under section 54?

   Capital Gain Exemption Under Section 54 of Income Tax Act, 1961

   www.caclubindia.com/articles/capital-gain-exemption-section-54-income-tax-act-1961-44025.asp

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2. cleartax.in › s › section-54-capital-gains-exemptionSection 54 of Income Tax Act - Capital Gains Exemption on ...

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   2 days ago · Under Section 54 of the Income Tax Act, an individual or HUF selling a residential property can avail tax exemptions from Capital Gains if the capital gains are invested in purchase or construction of residential property.

   • Cost of Acquisition: 40,00,000.00

   • Particulars: Amt (Rs)

3. tax2win.in › guide › section-54-of-income-tax-actSection 54 of the Income Tax Act: Capital Gains Exemption ...

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   Jun 28, 2024 · Learn how to claim tax exemption under Section 54 of the Income Tax Act when you sell a residential property and buy or construct another residential property in India. Find out the eligibility, conditions, amount, and impact of this section with examples and FAQs.

4. incometaxindia.gov.in › pages › actsTax Laws & Rules > Acts > Income-tax Act, 1961

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   The Income Tax Department NEVER asks for your PIN numbers, passwords or similar access information for credit cards, banks or other financial accounts through e-mail. The Income Tax Department appeals to taxpayers NOT to respond to such e-mails and NOT to share information relating to their credit card, bank and other financial accounts.

5. taxguru.in › income-tax › section-54-exemptionSection 54 Exemption for Capital Gains on Residential ...

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   Nov 3, 2023 · Learn how to save tax on capital gains when selling and buying a residential house in India. Find out the basic conditions, amount of exemption, computation method, and consequences of section 54 of income tax act.

6. taxguru.in › income-tax › capital-gains-exemptionCapital Gains Exemption on Sale of Residential House under ...

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   2 days ago · Conclusion: Section 54 of the Income Tax Act provides significant relief to taxpayers by exempting capital gains from the sale of a residential house, provided the gains are reinvested in another residential property. By understanding and fulfilling the necessary conditions, eligible assessees can optimize their tax liabilities effectively.

7. taxguru.in › income-tax › exemption-capital-gainExemption under capital Gain: Section 54, 54B, 54D ... - Tax Guru

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   Apr 3, 2024 · Sections 54, 54B, 54D, 54EC, 54F, 54G, and 54GA offer various benefits to individuals and entities. This article delves into the specifics of each section, including eligible assets, time limits for acquisition, exemption amounts, lock-in periods, and applicable deposit schemes.

8. www.caclubindia.com › articles › capital-gainCapital Gain Exemption Under Section 54 of Income Tax Act, 1961

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   May 9, 2024 · As per section 54 of Income Tax Act, 1961 an individual or HUF selling a residential house property can avail tax exemption under the said section for the capital gains, provided the capital gains are invested in purchase or construction of Residential House Property. What are the conditions to avail exemption under section 54?